Islamabad:Advisor to the Finance Minister on Economic and Financial Reforms, Khurram Schehzad said on Wednesday that the prudent policies introduced by the current government had started yielding the desired results, as reflected in a recent survey conducted by a world-leading firm.
‘Pakistan’s Global Consumer Confidence Index has improved, surpassing Trkiye for the first time in two years, while India, China, and Brazil have seen declines,’ he said in a statement, quoting a survey by global market research firm Ipsos that revealed a significant shift in public perception regarding Pakistan’s economic trajectory.
The survey, which includes responses from all four provinces as well as Islamabad Capital Territory (ICT), Gilgit-Baltistan (GB), and Azad Jammu and Kashmir (AJK), showcased a promising outlook for the country as it navigates economic challenges.
Khurram Schehzad highlighted several key positive takeaways from the fourth-quarter 2024 Ipsos survey, underscoring a wave of optimism among the Pakistan
i populace.
He said the survey indicated that belief in Pakistan “heading in the right direction” has nearly doubled, rising to 19 per cent – the highest level in 36 months. This surge in confidence reflects the growing public perception that the government’s efforts to stabilize the economy are beginning to yield results.
The advisor noted that a significant drop in “inflation concerns” has been observed, falling by 16 points. This marks the lowest level of inflationary anxiety in the past 3.5 years, signaling that the government’s policies aimed at controlling rising prices are having a positive impact on households.
Khurram said that, according to the report, there has been a significant shift in the way Pakistanis viewed the state of the national economy. The number of people describing the economy as “strong” has quadrupled since September 2023, while the number of those perceiving the economy as “weak” has dropped by 9 points, reflecting a growing sense of economic resilience.
The survey also highli
ghted an improvement in household financial confidence, with comfort in making purchases rising by 6 points in the last quarter. This suggests that Pakistanis are feeling more secure in their personal financial situations, which may have a ripple effect on consumer spending and overall economic growth.
Sharing further details, the advisor said that, commenting on “Future Optimism,” 21 per cent of respondents expected their local economies to strengthen over the next six months. This forward-looking optimism points to a growing belief that Pakistan’s economic conditions will improve in the near term, offering hope for sustained growth and recovery.
Additionally, he said that public confidence in the ability to save for the future has shown a significant rebound, indicating a shift toward a more positive outlook on long-term financial planning. This growing confidence in savings is a vital sign of increasing economic stability among households.
He also mentioned another noteworthy trend reflected in the surv
ey: the stable job security perception, which remained at a three-year high. This signals that Pakistanis are increasingly confident in their employment prospects, despite global economic uncertainty.
Winding up his statement, the advisor said these signals reflected growing public confidence and steady progress in economic resilience. ‘They also provide the government with further impetus to build on these achievements and ensure sustained economic progress and prosperity for all citizens,’ he remarked.